Sydney woman’s rent increased $12,000 overnight
A Sydney influencer has revealed how she was punished after a “shady” email was leaked, resulting in a dramatic rental increase overnight.
Apartment giant Meriton has increased Sydney woman Milly Rose Bannister’s rent to a jaw-dropping $12,000 per annum.
Milly spoke with 2GB Drive with Chris O’Keefe:
A full statement from Meriton is available below:
“Meriton manages 4250 properties on behalf of landlords and part of that service is to ensure landlords achieve “market rent” for their property. The rents are no greater than they were before COVID and of course the costs have gone up. The rent increases have nothing to do with greed or Meriton apartments would not be at capacity. Recent inflationary pressures have also impacted rent values but this seems to be exacerbated more so in Sydney where there is a chronic undersupply of apartments. Meriton is working hard with local and state governments to fast track approvals to deliver the much needed housing NSW needs”
The rent amount is a reflection of the value set by the market and renters should be prepared for more increases in the coming months. If Meriton were greedy, they would be unable to lease any of its own apartments. The banks are increasing interest rates rapidly, why are they not being called greedy? Meriton is building more apartments than any other developer in relation to Build-For-Rent. In that way, we are doing more to keep rent increases at a stable pace”.